Stellar (XLM/USD) Price May Break Up $0.34 Level

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STELLAR Price Analysis – September 15

When the buyers continue to defend the support level of $0.30, price may continue its bullish trend towards the resistance levels of $0.34, $0.42, and $0.48. In case the bears are able to push the price below the support level of $0.30 and the daily candle closes below it, then, Stellar price may reduce to the previous low of $0.19 levels.

XLM/USD Market

Key Levels:

Resistance levels: $0.34, $0.48

Support levels: $0.30, $0.24, $0.19

XLM/USD Long-term Trend: Bearish

Stellar is bearish on the daily chart.  Last two weeks, the buyers were holding unto the stellar market. The price increased and placed the coin at the resistance level of $0.42 after it broke up the resistance level of $0.34. The sellers opposed the price increase at the $0.48 level. This is seen on the daily chart with the formation of strong big bearish candle; this made the price to test the low at support level of $0.22. The price pulled back to $0.30 level where it started ranging movement.

Stellar breaks down the dynamic support levels. Stellar is trading below the 9 periods EMA and 21 periods EMA at close range. When the buyers continue to defend the support level of $0.30, price may continue its bullish trend towards the resistance levels of $0.34, $0.42, and $0.48. In case the bears are able to push the price below the support level of $0.30 and the daily candle closes below it, then, Stellar price may reduce to the previous low of $0.19 levels.

XLM/USD Medium-term Trend: Ranging

Stellar is on the ranging movement on the 4-hour chart. The buyers lose momentum when they pushed the price to the high of $0.42. The price decreased to $0.30. The bears’ momentum could not maintain the breakout, the price then pull back to $0.30 where it is currently consolidating. It seems that bulls’ pressure is increasing and there may be a breakout at $0.34.

Stellar is trading around 9 periods EMA and 21 periods EMA as a sign of ranging market. The Relative Strength Index periods 14 is above 50 levels and the signal line pointing up to indicate a buy signal.

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